Apple's iPhone Duo, which went up for preorder recently, has already sold out its launch-day inventory, with some online delivery estimates extending into late January. The company described the pre-order demand as 'extraordinary,' indicating a strong initial interest in this new product.
Priced at $1,999 and exceeding $3,000 for higher storage options, the Duo represents a significant shift in Apple's pricing strategy, introducing a new tier above the Pro and Pro Max models. Analysts suggest that Apple's strategy is not to make foldable phones a mass-market product but to cater to its high-spending customers, potentially increasing their value.
IDC forecasts that foldables will account for over 2% of global smartphone units this year but will generate nearly 7% of industry revenue. By 2030, foldables are expected to represent 10% of smartphone revenue, highlighting a lucrative opportunity for Apple. The Duo's appeal lies in its status as an aspirational product, leveraging Apple's existing ecosystem of 1.4 billion iPhones.
Analysts predict that the Duo could capture a significant share of the foldable market, potentially surpassing competitors like Samsung and Huawei. The device is expected to boost Apple's average selling price, as many customers may upgrade from existing iPhones rather than switching to lower-priced models.
However, the success of the Duo is crucial for Apple, especially as it faces challenging earnings comparisons and a slowing smartphone market. Analysts emphasize that the Duo could help maintain iPhone revenue by attracting customers willing to pay a premium, even if overall unit sales do not grow significantly